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Buckeye Partners, L.P. ("Buckeye")
BPL announced today that it has reached a multi-year agreement with a
subsidiary of Irving Oil Limited ("Irving Oil") to provide crude oil services
at its terminal located in Albany, New York, including off-loading
unit-trains, storage, and throughput. The approximately 1.8 million barrel
storage facility located within the Port of Albany along the Hudson River is
expected to begin handling crude oil on November 1, 2012. Buckeye plans to
make modifications to the Albany terminal that, once completed, will allow the
terminal to handle both crude oil and ethanol unit-trains with a total
capacity in excess of 135,000 barrels per day.
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